STPZ vs. STIP
STPZ (PIMCO 1-5 Year US TIPS Index ETF) and STIP (iShares 0-5 Year TIPS Bond ETF) are both Inflation-Protected Bonds funds - STPZ tracks the ICE BofA US Inflation-Linked Treasury (1-5 Y) while STIP tracks the Bloomberg US Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L). Both are passively managed. Over the past 10 years, STPZ returned 2.78%/yr vs 3.07%/yr for STIP. Their correlation of 0.89 suggests significant overlap in exposure. STPZ charges 0.20%/yr vs 0.06%/yr for STIP.
Performance
STPZ vs. STIP - Performance Comparison
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Returns By Period
In the year-to-date period, STPZ achieves a 1.01% return, which is significantly lower than STIP's 1.34% return. Over the past 10 years, STPZ has underperformed STIP with an annualized return of 2.78%, while STIP has yielded a comparatively higher 3.07% annualized return.
STPZ
- 1D
- 0.06%
- 1M
- -0.36%
- YTD
- 1.01%
- 6M
- 1.22%
- 1Y
- 3.26%
- 3Y*
- 4.81%
- 5Y*
- 2.83%
- 10Y*
- 2.78%
STIP
- 1D
- 0.01%
- 1M
- -0.29%
- YTD
- 1.34%
- 6M
- 1.51%
- 1Y
- 3.58%
- 3Y*
- 4.99%
- 5Y*
- 3.28%
- 10Y*
- 3.07%
STPZ vs. STIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
STPZ PIMCO 1-5 Year US TIPS Index ETF | 1.01% | 6.40% | 4.30% | 4.28% | -4.49% | 5.64% | 5.44% | 4.83% | 0.04% | 0.51% |
STIP iShares 0-5 Year TIPS Bond ETF | 1.34% | 6.03% | 4.77% | 4.63% | -3.02% | 5.68% | 5.18% | 4.89% | 0.54% | 0.74% |
Correlation
The correlation between STPZ and STIP is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2010 | 0.89 |
The correlation between STPZ and STIP has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.
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Return for Risk
STPZ vs. STIP — Risk / Return Rank
STPZ
STIP
STPZ vs. STIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO 1-5 Year US TIPS Index ETF (STPZ) and iShares 0-5 Year TIPS Bond ETF (STIP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| STPZ | STIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.48 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 4.96 | -1.45 |
| Martin ratioReturn relative to average drawdown | 10.76 | 18.20 | -7.44 |
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Drawdowns
STPZ vs. STIP - Drawdown Comparison
The maximum STPZ drawdown since its inception was -6.77%, which is greater than STIP's maximum drawdown of -5.50%. Use the drawdown chart below to compare losses from any high point for STPZ and STIP.
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Drawdown Indicators
| STPZ | STIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.77% | -5.50% | -1.27% |
Max Drawdown (1Y)Largest decline over 1 year | -0.93% | -0.73% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -1.35% | -0.95% | -0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -6.70% | -5.50% | -1.20% |
Max Drawdown (10Y)Largest decline over 10 years | -6.77% | -5.50% | -1.27% |
Current DrawdownCurrent decline from peak | -0.87% | -0.72% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -1.30% | -0.99% | -0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 0.20% | +0.10% |
Volatility
STPZ vs. STIP - Volatility Comparison
PIMCO 1-5 Year US TIPS Index ETF (STPZ) has a higher volatility of 0.82% compared to iShares 0-5 Year TIPS Bond ETF (STIP) at 0.64%. This indicates that STPZ's price experiences larger fluctuations and is considered to be riskier than STIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STPZ | STIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 0.64% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 1.39% | 1.14% | +0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.95% | 1.53% | +0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.29% | 2.74% | +0.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.99% | 2.46% | +0.53% |
STPZ vs. STIP - Expense Ratio Comparison
STPZ has a 0.20% expense ratio, which is higher than STIP's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
STPZ vs. STIP - Dividend Comparison
STPZ's dividend yield for the trailing twelve months is around 4.14%, less than STIP's 4.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
STIP iShares 0-5 Year TIPS Bond ETF | 4.33% | 4.11% | 2.62% | 2.84% | 6.04% | 4.15% | 1.40% | 2.06% | 2.44% | 1.59% | 0.89% | 0.00% |
STPZ PIMCO 1-5 Year US TIPS Index ETF | 4.14% | 3.65% | 1.97% | 1.63% | 5.88% | 3.65% | 1.86% | 1.76% | 2.23% | 1.51% | 0.65% | 0.49% |
Frequently Asked Questions
With a correlation of 0.90, STPZ and STIP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
STPZ has higher volatility (0.82%) compared to STIP (0.64%). In terms of maximum drawdown, STPZ dropped -6.77% vs STIP's -5.50%.
On 10-year performance, STIP leads with 3.07% vs 2.78% for STPZ. On fees, STIP is cheaper at 0.06% per year. On volatility, STIP has been the lower-risk option at 0.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, STIP has performed better with a 3.07% return vs 2.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
STIP is cheaper with a 0.06% expense ratio, compared with 0.20% for STPZ.
STIP has the higher dividend yield at 4.33%, compared with 4.14% for STPZ.
STPZ tracks ICE BofA US Inflation-Linked Treasury (1-5 Y), while STIP tracks Bloomberg US Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L). They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.20% for STPZ and 0.06% for STIP.
STIP currently has the higher Sharpe Ratio (2.34 vs 1.68), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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